Barsele Minerals Corp (CVE:BME) reported further encouraging results from exploration at its gold/volcanogenic massive sulphide project in Sweden, where assays included 9.0 metres grading 35.72 grams gold.
Shares of Barsele were up 4.8% at C$0.66 mid-day Thursday.
Drilling continued this spring with four drills becoming operational at the Barsele Project. The results, which span from March to May 2018, showed that by the end of May, 18,252 metres of core has been collected from 43 completed holes since drilling started in early January 2018.
"Drilling is now focused on the search for extensions of higher-grade (>2.5 g/t) gold zones at Avan, Central and Skirasen and planning is taking place toward the resumption of drilling at Risberget, as well as new regional VMS targets," said president Gary Cope.
We look forward to forthcoming drill results along with an ongoing successful drilling campaign in 2018."
The exploration program is being operated by joint venture partner Agnico Eagle Mines Ltd (TSE:AEM), with ownership in the Barsele Project, 55% Agnico Eagle and 45% Barsele. Agnico Eagle can earn an additional 15% in the Barsele Project through the completion of a pre-feasibility study.
The Barsele Gold Project is located approximately 600km due north of Stockholm and 40km southeast of Storuman, a small town situated in Västerbottens Län, which is a regional district of northern Sweden.
At the Avan Zone, highlight results included one hole that averaged 2.54 g/t gold along a core length of 17.4 metres (estimated 11.5 metres true thickness) at a midpoint depth of 15 metres below surface. Another hole cut 6.0 metres core length (estimated 3.7 metres true thickness) grading 2.79 g/t gold at a midpoint depth of 105 metres below surface, plus 9.0 metres core length (estimated 5.7 metres true thickness) grading 35.72 g/t gold uncut (5.58 g/t gold cut) at a midpoint depth of 200 metres below surface. Another hole cut 13.0 metres core length (estimated 8.2 metres true thickness) grading 2.3 g/t gold at a midpoint depth of 235 metres below surface.
At the Central Zone, seven gold-bearing zones were intersected with the highlight being 13.0 metres core length (estimated 7.2 metres true thickness) grading 2.8 g/t gold at a midpoint depth of 445 metres below surface.
Along the Stentjarnen trend, one hole showed core length (estimated 2.3 metres true thickness) grading 2.97g/t gold. Beyond three holes with minor zinc intercepts, and another drill hole with a minor gold intercept, the majority of the Stentjarnen holes did not yield any significant intercepts.